What are credit card companies allowed to do when attempting to collect on your delinquent account in Georgia?

Consumers need to know that protection against unscrupulous collection practices is in place through the Fair Debt Collection Practices Act (FDCPA). The Act covers any collection activity related to a credit card, personal loan, auto loan, medical bill and even your mortgage. A creditor cannot, for example, contact a debtor about a debt owed during inconvenient times, i.e. before 8:00am and after 9:00pm. Creditors are not allowed to contact other people about a person’s debt but may inquire … [Read more...]

If I file a bankruptcy is my credit ruined forever?

If I file bankruptcy, is my credit ruined forever? Short answer - no. The Fair Debt Reporting Act controls how your credit history is treated and reported. The maximum time any information regarding a debt stays on your report is 10 years. The filing of a Chapter 7 case will be reported on your credit history and will stay there for 10 years. If you file a Chapter 13 case, that information stays for 7 years. If you have negative information such as late payments, that also stays … [Read more...]

What about Consumer Credit Counseling? – Credit Counseling Atlanta Georgia

What about Consumer Credit Counseling? Over the past few years, a popular alternative to bankruptcy has surfaced. Consumer Credit Counseling Services (CCCS), a nonprofit organization financed by credit card companies and other consumer finance organizations, works with you to reduce some of your debt and create a plan to pay off the rest of your debt without the intervention of the Bankruptcy Courts. If your debt is not too overwhelming and you have sufficient income, CCCS may be able to … [Read more...]

Basic Bankruptcy Questions and Answers – Bankruptcy Attorney in Atlanta, Georgia

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Will I lose everything if I file for Bankruptcy? The thought of losing your possessions because you are filing a bankruptcy case scares many people. Many also have private 401(k) accounts, government retirement accounts and personal private pensions or other investments that they think will get seized and used to pay creditors. The idea that this money may be lost is a real concern of clients. There is good news though, when you file a bankruptcy case, the courts allow you to exempt some of … [Read more...]